To become a millionaire from the PPF scheme, adopt this formula from today itself, you will collect crores of funds before retirement.

Every person wants to invest his earnings in such a place, where the money is safe as well as you get good returns on the money invested. There are many such schemes, in which you can earn very good profit by investing. One of these schemes is the Public Provident Fund i.e. PPF scheme. PPF is a government scheme, in which you can earn very good profit by investing your money.

Public Provident Fund (PPF) Scheme

In PPF scheme, you can invest a little bit every month and add good funds. In this scheme, you can invest up to Rs 1.50 lakh annually i.e. Rs 12,500 every month. Talking about the returns available in PPF scheme, this scheme gives a return of 7.1 percent interest rate. This interest rate is available every quarter. The maturity period of PPF scheme is 15 years. After 15 years, you can also extend this scheme twice for 5 years each.

Become a millionaire before retirement with PPF

To become a millionaire with PPF, you will have to invest Rs 12,500 every month in PPF. After this, you will also have to extend this scheme twice for 5 years each after 15 years. Suppose you have started investing in PPF from the age of 30, then your total investment in 15 years will be Rs 22,50,000, on which you will get an interest of Rs 18,18,209. In such a situation, you will have Rs 40,68,209 in PPF. Now you have to extend it twice for 5 years each.

In the next 5 years, your Rs 40,68,209 will increase to Rs 66,58,288. On extending it one more time, you will get a total of Rs 1,03,08,015. In this way, you will have a fund of crores at the age of 55.